EFCC Boss Reveals How Yahoo Boys Stole N7.2 Million From Serving Judge Overnight, Recovered Funds Within Hours

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukayode, has sounded a fresh warning over the growing threat posed by internet fraudsters, popularly known as Yahoo Boys, revealing how a serving judge lost more than N7.2 million to cybercriminals in the middle of the night.

Olukayode made the revelation while speaking at the public presentation of two books authored by retired High Court judge, Alaba Omolaye-Ajileye, where he emphasized the urgent need for Nigerians and key institutions to unite in the fight against financial crimes.

Midnight Distress Call

According to the EFCC Chairman, he received an emergency call around 1:00 a.m. from a serving judge in one of Nigeria’s South-South states after fraudsters emptied her bank account.

He disclosed that the judge had saved the money over a six-year period to fund her child’s education abroad. She reportedly woke up to multiple debit alerts and realized that approximately N7.2 million had disappeared from her account.

Olukayode said the distressed judge immediately contacted him for urgent intervention.

“This Is an Exception”

The EFCC Chairman noted the irony that the incident occurred in a state where a court had previously restrained the anti-graft agency from investigating certain financial crimes.

Recalling the conversation, he said he reminded the judge of the existing court injunction. However, she insisted that immediate action be taken because she had become a direct victim of cybercrime.

According to Olukayode, the EFCC swung into action immediately and successfully recovered the entire stolen sum before 6:00 p.m. the same day.

He used the incident to illustrate how people often appreciate the seriousness of financial crimes only after experiencing them firsthand.

“When you become a direct victim, that is when you’ll know that something has to be done,” he remarked.

Call for Collective Action

The EFCC Chairman stressed that tackling cybercrime requires the commitment of every stakeholder, including law enforcement agencies, the judiciary, financial institutions, and ordinary citizens.

He maintained that Nigeria can significantly reduce internet fraud if all sectors work together rather than leaving the responsibility solely to security agencies.

AI Creating New Challenges for Crime Investigation

Olukayode also highlighted the growing influence of Artificial Intelligence (AI) on modern crime, revealing that the EFCC has already begun deploying AI-powered tools during investigations.

However, he expressed concern about the legal challenges surrounding the admissibility of AI-generated evidence in Nigerian courts, particularly under the provisions of Section 84 of the Evidence Act.

He called on lawmakers, legal scholars, and stakeholders to review existing legislation and develop a legal framework that accommodates technological advancements and AI-driven investigations.

Agabi Calls for Recovery of Looted Funds

Delivering the keynote address, former Attorney-General of the Federation and Minister of Justice, Kanu Agabi, urged anti-corruption agencies to intensify efforts toward recovering billions of naira allegedly looted from Nigeria and hidden in foreign countries.

According to Agabi, bringing back the nation’s stolen wealth should be a priority for the current generation.

Legal Stakeholders Demand Stronger Cybercrime Enforcement

Also speaking at the event, former Chairman of the Body of Benchers, Wole Olanipekun, called for stricter enforcement of Nigeria’s cybercrime laws to deter offenders.

Similarly, the Director-General of the Department of State Services>, Tosin Ajayi, argued that consistent prosecution and conviction of cybercriminals would discourage others from engaging in internet fraud.

Book Launch Attracts Legal Heavyweights

The event featured the unveiling of two publications by Justice Omolaye-Ajileye:

• Electronic Evidence (Second Edition, with the Evidence Act, 2011)
• A Compendium of Cases on Electronic Evidence (Volume II, 2020–2025)

The ceremony attracted serving and retired judicial officers, Senior Advocates of Nigeria, legal scholars, and other stakeholders from across the country’s justice sector.

Why It Matters

The EFCC Chairman’s revelation underscores the increasing sophistication of cybercriminals and demonstrates that internet fraud can affect anyone, regardless of status or profession. His call for stronger cooperation, tougher enforcement of cybercrime laws, and updated legislation to address Artificial Intelligence reflects the evolving nature of financial crime and the urgent need for Nigeria’s legal system to keep pace with technological advancements.